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Director - Canada, FIU, AML Risk

Date: Mar 16, 2019

Location: Toronto, ON, CA

Company: Scotiabank



Requisition ID: 50626


Join the Global Community of Scotiabankers to help customers become better off.



Leads and oversees the bank's Financial Intelligence Unit

Executes / delivers business strategies, plans, and initiatives in compliance with governing regulations, the AML/ATF Program, internal policies and procedures.

Executes and administers the responsibilities, on behalf of the VP FIU AML Risk, for the bank's FIU, including timely disposition and proper regulatory reporting.

Responsible for the operational processes, along with quality performance,  within the bank and facilitates regulatory AML reporting while providing advice and counsel to business lines regarding AML/ATF associated risk mitigation activities.  



  • Develops and implements the FIU's operational strategy for the efficient and effective execution of the assigned components of GAMLU’s AML/ATF detection, and reporting program.
  • Contributes to, and approves, policies and procedures for implementation of the GAMLU AML/ATF Program
  • Monitors overall departmental performance and work quality, including, but not limited to, workload, staffing, change management implementation, quality assurance assessments, training effectiveness, and other defined departmental performance measurements.
  • Collaborates and coordinates effectively with others within GAMLU, Operations, other FIUs, SIU, and the Business Lines to effectively administer the bank’s AML/ATF Program and mitigate risk efforts.
  • Oversees investigations of potentially suspicious activity and provides guidance to ensure effective actions and resolutions for mitigating regulatory, financial, reputational and legal risk to BNS and GAMLU.
  • Provides guidance and collaborates with other AML/ATF subject matter experts concerning high-risk investigations, including determining whether there is reasonable grounds to suspect unusual activity and whether or not customers represent high or unacceptable levels of risk.
  • Maintains processes established for the actions required for referrals and information sharing involving sanctions, Corporate Security, law enforcement agencies, FINTRAC, or other FIU requests.
  • Ensures the timely and accurate reporting of suspicious activity reporting (“STR”) and other required AML/ATF filings to the proper regulatory authority, in accordance with regulations.
  • Prepares  recommendations for potential escalation to the CAMLO with respect to customer risk mitigation activities, including potential customer exits or retention with risk mitigation conditions
  • Provides operational and industry subject matter expertise and feedback to the Senior Managers, as well as Enterprise AML-ATF Solutions and AML/ATF Risk Models teams to facilitate their design and calibration of the Bank’s automated monitoring systems.
  • Participates in the design of appropriate management reporting (e.g. metrics for analyst productivity, conversion ratios, case aging etc.) to monitor the efficiency and effectiveness of investigative activities and to facilitate the reporting of identified operational risks to Senior Management.
  • Oversees and manages proper remediation efforts and corrective actions, as assigned.
  • Understands and implements the Bank’s risk appetite and risk culture in day-to-day activities and decisions.
  • Create an environment in which teams, under his or her direction, pursue effective and efficient operations while ensuring the adequacy, adherence to and effectiveness of business controls to meet obligations with respect to operational risk, regulatory risk, reputational risk, and compliance risk. Responsibilities include, but are not limited to, those defined under the Enterprise-wide AML & ATF and Sanctions Handbook, Scotiabank Code of Conduct, the Anti-Corruption Policy, Scotiabank Information Security Policy, Privacy Policy, and the Enterprise-Wide Risk Management Framework.
  • Builds a high performance environment using an approved human resource implementation strategy designed to develop, retain, and motivate his or her team.
  • Fosters an inclusive work environment and communicates Scotiabank’s and the GAMLU’s visions, values and business strategy.
  • Strategically anticipates and identifies the need for additional resources, leads the hiring and human resource development process, manages succession, and plans for team development by identifying and promoting high performance individuals.
  • Establish proper oversight processes for 3rd parties, agents, and vendors, as applicable.


Functional Competencies

  • Extensive knowledge of significant and relevant AML laws and regulations, particularly related to investigations
  • Strong investigative skills and understanding of complex or unusual financial transactions
  • Proven ability to use excellent judgment and solid leadership
  • Demonstrated expertise leading AML/ATF functions at senior levels
  • Excellent writing, presentation, and analytical skills
  • Prior experience, organizational knowledge and leadership skills within a large/global team 
  • Proven ability to lead / drive rapid and significant change
  • Demonstrated ability to exercise sound judgment as to the materiality of risks where identified
  • Proven ability in determining required risk mitigation activities with appropriate consideration to the impact to the business line
  • Demonstrated ability to develop and maintain relationships with business leaders to support enterprise objectives, influence key stakeholders and jointly develop effective and realistic strategies
  • Excellent interpersonal, communication, negotiation and strategic influencing skills
  • Uses an analytical approach to problem solving, with a focus on managing a team environment coupled with attention to results and a sense of urgency
  • Strong technology background, coupled with equally strong financial and risk management knowledge.
  • Certified Anti-Money Laundering Specialist designation is an asset.
  • Exemplary integrity and ethics in all instances


Educational/Work Experience

University degree or equivalent and a minimum of 7 years’ experience in the financial services industry preferable in a global/matrix organization in risk management, Audit or AML disciplines.


Location(s):  Canada : Ontario : Toronto

As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. We value the unique skills and experiences each individual brings to the bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. Candidates selected for an interview will be contacted directly.  If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.

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